By Stuart Biggs | Updated on Oct 07, 2026 at 02:26 PM
The Canadian branch of the billionaire Weston family agreed to buy health retailer Boots for $8.9 billion including debt, in another change of hands for the pharmacy chain and a UK return for the former owner of Selfridges.
The owner of Canadian grocery chain Loblaws will acquire Boots via its Wittington Investments vehicle from Sycamore Partners and the Pessina family, according to a statement Wednesday. The private equity firm took control of Boots through the acquisition of parent company Walgreens Boots Alliance Inc. in 2025.
Wittington will buy Boots’ retail operations in the UK and Ireland as well as certain other businesses.
Read More: Sycamore Said to Near Deal to Sell Boots to Canada’s Westons
Boots has been a fixture of UK shopping streets for generations, combining a large pharmacy operation with well-known health and beauty brands across more than 1,800 stores. It reported revenue rose 3.2% to £7.5 billion ($9.9 billion) in its latest full-year results ended August 2025, and there was speculation around an initial public offering under new Chief Executive Officer Alex Baldock.
But in recent years, Boots has changed hands repeatedly in a series of wider corporate transactions, including a leveraged buyout by KKR and Stefano Pessina and the later purchase by Walgreens. The Westons will take over with many stores in need of upgrading and refurbishing.
Fairfax Financial Holdings, a Toronto-based holding company, is partnering with Wittington, which will have operational control.